American Civil Liberties Union Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of American Civil Liberties Union, written in plain English, along with examples of how it is used.
What is American Civil Liberties Union?
n. also called arrearages, it is the legal term for the debt accrued after missing an expected payment. Arrears accrue from the date upon the first missed payment. The term is often used to describe being late with rent, royalties (or other contractual payments), child support, or other legal financial obligation.
History and Meaning of Arrears
Arrears is a term used in the legal profession to describe the amount of debt that accumulates after a payment obligation has been missed. In simple terms, it refers to the amount of money that is owed after a payment has not been made. Whether it is child support, rent or royalties, failure to make payments on the agreed-upon dates can result in a substantial amount of arrears.
Arrears often occur when debtors fail to make payments on time or complete payments but neglect to pay in the correct amounts. In most cases, legal action can be taken when significant arrears have accumulated.
Examples of Arrears
- John was three months behind on his rent payments, which resulted in significant arrears that he was required to pay.
- The company was in arrears for their taxes, which resulted in legal action being taken against them.
- After missing several payments, the father was required to pay child support and arrears exceeding $10,000.
- The artist was owed arrears from her music label for royalties that were never paid.
- The athlete was suspended from play until he addressed the arrears on his child support payments.
Legal Terms Similar to Arrears
- Debt: This term refers to the amount of money that is owed to a creditor.
- Default: This is a legal term that is used when an obligation cannot be fulfilled through payment.
- Foreclosure: This is a legal process initiated when the owner of the property has defaulted on a mortgage.
- Lien: This is a legal claim against property that can be used to secure the payment of a debt.
- Repossession: This is a legal action that allows a lender or creditor to take possession of property when payments are not made.